Set pressure cooker to sauté and heat olive oil.
Brown beef chunks in batches, then set aside.
Add onion and garlic to pot, cooking until fragrant.
Stir in carrots, potatoes, and celery.
Return beef to the pot along with broth, tomato paste, herbs, bay leaves, salt, and pepper.
Lock lid and cook on high pressure for 35 minutes.
Allow natural release for 10 minutes, then quick release.
Optional: Stir flour with a bit of broth and whisk into stew to thicken.
Remove bay leaves before serving. Ladle into bowls and enjoy warm.